The Nigerian business mogul said he is currently focusing on some projects worth $20 billion, but will make a bid to take over Arsenal next year.
Dangote made this known during an exclusive interview with Bloomberg.
“It is a team that, yes, I would like to buy someday but what I keep saying today we have 20 billion dollars worth of projects and I think that is really what I want to concentrate on,” he said.
“I am trying to finish building the company and then after we finish maybe sometime in 2021...
“I am not buying Arsenal right now, I am buying Arsenal when I finish all these projects because I am trying to take the company to the next level.”
Dangote is known to be a passionate Arsenal fan and has previously indicated his readiness to buy the club, which is currently owned by Kroenke Sports & Entertainment.
The Nigerian is the founder and Executive Chairman of the Dangote Group, producers of Dangote Cement and other products on the continent.
The multi-billionaire’s company produces 45.6 million metric tons of cement annually and has operations in 10 countries across Africa.
Also, the Dangote Refinery is expected to be one of the world's largest oil refineries when its construction is done.